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| March 20, 2019

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Trump Appears at Surprise White House Briefing

January 3, 2019 |

White House Press Secretary Sarah Huckabee Sanders announced a surprise briefing Thursday, giving just five minutes notice before it began, Mediaite reports. President Trump himself opened the briefing after Sanders introduced him, CNN reports. Two New York Times writers noted on Twitter that while the POTUS once “stuck his head…
Newser

Bitcoin History Part 5: A Wild Altcoin Appears

December 19, 2018 |

Bitcoin History Part 5: A Wild Altcoin Appears

It’s hard to imagine a time before cryptocurrency exchanges were stocked with hundreds of digital assets. A time before the pejorative “shitcoin” had been coined and there was no such metric as bitcoin dominance. But travel back to late 2010 and that’s exactly what you’d have found: a cryptosphere in which BTC was the only coin in town. But all that was about to change.

Also read: Bitcoin History Part 4: Casascius Creates Physical Bitcoins

Namecoin Is First Out the Blocks

Bitcoin History Part 5: A Wild Altcoin AppearsThe first altcoin to emerge following bitcoin wasn’t litecoin, peercoin or dash. Rather, it was a now obscure cryptocurrency called namecoin (NMC). It was unveiled on the Bitcointalk forum on April 18, 2011, with a mandate that read quite differently from that of BTC. Compared to the many identikit alts that sprung up in the months to follow, NMC began life with novel intentions. “Namecoin is a naming system based on bitcoin with a few modifications,” explained its [announce] thread, utilizing a formula that is today known as an [ANN]. “This is a new blockchain, separate from the main Bitcoin chain. Name/value pairs are stored in the blockchain attached to coin … Names expire after 12000 blocks unless renewed with an update.”

Curiously, but perhaps not surprisingly, the inspiration for Namecoin came from Satoshi himself, though he had no hand in its development. Four months earlier, Bitcoin’s creator had essentially conceived the idea of Namecoin, writing, in a thread titled “BitDNS and Generalizing Bitcoin,” “While you are generating bitcoins, why not also get free domain names for the same work? If you currently generate 50 BTC per week, now you could get 50 BTC and some domain names too.” Satoshi went on to explain a technical proposal involving merkle trees that would eventually form the basis for Namecoin.

Moreover, Namecoin’s goal of serving as a decentralized domain registration system may have been partially inspired by Satoshi’s own experience of purchasing the bitcoin.org domain in 2008. With no anonymous cryptocurrency with which to pay, he was forced to use anonymouspeech.com, which enables services to be acquired using gift cards.

Bitcoin History Part 5: A Wild Altcoin Appears
In April 2013, namecoin was the fourth largest cryptocurrency based on market cap.

What’s in a Namecoin?

Bitcoin History Part 5: A Wild Altcoin AppearsToday, namecoin is effectively a dead coin, despite still being listed on Poloniex and Livecoin. In its seven-year history, NMC has had its moments of glory, like the time it pumped to $ 15.41 per coin or 0.014 BTC in Nov. 2013. Or the time it hit $ 8.64 in January of this year, one final burst of nostalgia at a time when every shitcoin under the sun was pumping. By then, namecoin was already a dead coin, with its bitcoin value reaching just 0.0006 BTC per coin. Today, its 24-hour trade volume stands at $ 15,000 and Namecoin’s DNS naming system is dead in the water. That’s not to say NMC has been an outright failure, however.

With over 2,000 cryptocurrencies now vying for supremacy, Namecoin can be credited with either starting the stampede or instigating the rot. Whatever one’s assessment of Namecoin and the plethora of altcoins that followed, NMC was pivotal in demonstrating that there is space in the cryptosphere for more than just one digital asset. Today there are multiple bitcoins and a panoply of shitcoins, but at a 97 percent reduction from its all-time high, Namecoin embodies the fate of all altcoins to date. As the history books show, Bitcoin is easily emulated but never bettered.

Bitcoin History is a multipart series from news.Bitcoin.com charting pivotal moments in the evolution of the world’s first and finest cryptocurrency. Read part four here.


Images courtesy of Shutterstock and Coinmarketcap.


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The post Bitcoin History Part 5: A Wild Altcoin Appears appeared first on Bitcoin News.

Bitcoin News

TMZ

Offset Appears Onstage at Cardi B Rolling Loud Concert and Begs Her to Take Him Back

December 16, 2018 |

Offset threw what seemed on the surface like a Hail Mary, by slinking on stage at the Rolling Loud Concert as headliner Cardi B performed her set, but something’s off. Cardi was a few songs into her performance Saturday night in L.A. at the Banc of…

TMZ.com

TMZ

Steph Curry In Black Friday Car Crash, Appears Okay

November 23, 2018 |

NBA superstar Steph Curry was in a multi-car wreck on an Oakland highway early Friday morning — his Porsche was smashed up — but he appears to be okay.  It all went down around 9 AM — the Golden State Warriors star was driving on Highway 24…

TMZ.com

TMZ

Tekashi 6ix9ine Appears to Order Hit on Chief Keef’s Cousin in Shocking New Video

November 23, 2018 |

Tekashi69 appears to have ordered his goons to shoot up Chief Keef’s cousin, days before Keef narrowly escaped gunfire in New York City.   In shocking new footage, obtained by TMZ, you see Tekashi on FaceTime with Chief’s cousin,…

TMZ.com

Disney appears to gain a friendly majority in Anaheim City Council. The ‘living wage’ initiative is still too close to call

November 8, 2018 |

After butting heads for two years with the Anaheim City Council, Walt Disney Co. appears to have won a favorable majority on the panel as candidates backed by the media giant were well ahead in a wide field of hopefuls.

Three City Council candidates, including the mayor, who received campaign support…


L.A. Times – Business

Hillary Clinton Appears on Murphy Brown Premiere

September 28, 2018 |

Hillary Clinton made a cameo appearance on the premiere of the Murphy Brown reboot as an applicant for a secretarial job who says she has “some experience with emails,” a line the show’s creator said Friday she was surprised that Clinton was happy to deliver. The former secretary of state,…
Newser

Goat-Headed Idol Appears at Arkansas Capitol

August 17, 2018 |

The Satanic Temple temporarily placed a bronze statue of a goat-headed, winged creature called Baphomet at the Arkansas State Capitol during a rally to call for the removal of a Ten Commandments monument on Capitol grounds. About 150 Satanists, atheists, and Christians attended the peaceful First Amendment rally Thursday, the…
Newser

Trump Questions Finding of Russia’s 2016 Meddling as He Appears With Putin

July 18, 2018 |

President Donald Trump on Monday publicly questioned the U.S. intelligence conclusion that Moscow meddled in the 2016 presidential election as he stood beside Russian leader Vladimir Putin, in a move that lawmakers of both parties said was a stunning alignment with a U.S. adversary.
WSJ.com: What’s News Asia

Trump Questions Finding of Russia’s 2016 Meddling as He Appears With Putin

July 17, 2018 |

President Donald Trump on Monday publicly questioned the U.S. intelligence conclusion that Moscow meddled in the 2016 presidential election as he stood beside Russian leader Vladimir Putin, in a move that lawmakers of both parties said was a stunning alignment with a U.S. adversary.
WSJ.com: What’s News Europe